LGT Group Foundation Lowers Stake in Fortinet, Inc. $FTNT

LGT Group Foundation cut its holdings in Fortinet, Inc. (NASDAQ:FTNT) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 418,889 shares of the software maker’s stock after selling 32,816 shares during the quarter. LGT Group Foundation’s holdings in Fortinet were worth $35,681,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. LSV Asset Management purchased a new position in shares of Fortinet during the second quarter worth about $25,000. Pinnacle Holdings LLC acquired a new position in Fortinet in the 3rd quarter valued at about $25,000. Financial Consulate Inc. purchased a new stake in Fortinet during the 3rd quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. acquired a new stake in Fortinet during the 3rd quarter worth approximately $25,000. Finally, Ameriflex Group Inc. acquired a new stake in Fortinet during the 3rd quarter worth approximately $25,000. 83.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fortinet news, VP Michael Xie sold 343,106 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $81.42, for a total transaction of $27,935,690.52. Following the sale, the vice president directly owned 10,210,282 shares in the company, valued at approximately $831,321,160.44. The trade was a 3.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ken Xie sold 175,737 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $81.42, for a total transaction of $14,308,506.54. Following the transaction, the chief executive officer directly owned 51,396,385 shares in the company, valued at approximately $4,184,693,666.70. This trade represents a 0.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 17.20% of the stock is currently owned by company insiders.

Fortinet Stock Performance

Shares of FTNT stock opened at $83.67 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.09 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $80.23 and a 200-day simple moving average of $81.51. The company has a market cap of $61.91 billion, a price-to-earnings ratio of 34.43, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. Fortinet, Inc. has a 12-month low of $70.12 and a 12-month high of $109.33.

Fortinet (NASDAQ:FTNT) last posted its quarterly earnings results on Thursday, February 5th. The software maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Fortinet had a return on equity of 124.21% and a net margin of 27.26%.The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. Fortinet has set its Q1 2026 guidance at 0.590-0.630 EPS and its FY 2026 guidance at 2.940-3.000 EPS. On average, equities analysts forecast that Fortinet, Inc. will post 2.09 EPS for the current year.

Analyst Upgrades and Downgrades

FTNT has been the topic of a number of recent research reports. Freedom Capital lowered Fortinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 17th. Morgan Stanley reaffirmed an “underweight” rating and set a $70.00 price target (up from $66.00) on shares of Fortinet in a report on Thursday, December 18th. Jefferies Financial Group set a $90.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Evercore set a $80.00 price objective on shares of Fortinet in a research note on Friday, February 6th. Finally, Daiwa Securities Group downgraded shares of Fortinet from an “outperform” rating to a “neutral” rating and set a $86.00 price objective for the company. in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty-two have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $88.62.

Fortinet Company Profile

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.